This paper examines the forecasting performance of a broad monetary aggregate (M3) in predicting euro area inflation … even in the period of the financial and economic crisis. Monetary indicators are useful to predict inflation at the longer … money and inflation, central banks should implement exit strategies from the current policy path, as soon as the financial …

coins and banknotes. The monetary overhang and the real money gap do not indicate significant inflation pressures. The …

elasticity of money demand after 2001 is taken into account. Measures of excess liquidity do not show significant inflation …

predicting euro area inflation. Excess liquidity is measured as the difference between the actual money stock and its fundamental … inflation, if the forecasting equations are based on measures of excess liquidity. …

coins and banknotes. The monetary overhang and the real money gap do not indicate significant inflation pressures. The …

monetary and credit aggregates are very often selected among the top predictors of inflation, with their predictive power … and credit variables in forecasting inflation, even if their information content is diluted in a much broader pool of …